Cost of Living
The ACCRA Cost of Living Index measures the relative price levels for consumer goods and services in participating areas. The average for all participating places equals 100, and each participant's index is read as a percentage of the average for all places.
The fourth quarter 2006 ACCRA Cost of Living Index for Grand Forks is:
Composite Index |
90.7 |
Grocery Items |
95.8 |
Housing |
82.5 |
Utilities |
101.9 |
Transportation |
94.5 |
Healthcare |
96.1 |
Misc. Goods/Services |
91 |
The following is a summary of data regarding several key cost of living factors in the Grand Forks area.
- 2005 (3rd Quarter) ACCRA Average three-bedroom House Price: $137,385
- 2006 (4th Quarter) ACCRA Cost of Living Index: 92.7 (U.S. average = 100.0)
- State income tax rate: Ranges from 2.6% to 12%
- State sales tax rate: 5.0% (food and prescription drugs are exempt)
- Local income tax rate: None
- Local sales tax rate: 1.75%
- Property tax rate: 2.25% of appraised value (2005)
(Source: Grand Forks Chamber of Commerce)
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